https://www.taxtmi.com/caselaws?id=70461 The Tribunal allowed the appeal, ruling in favor of the assessee, and annulled the assessment for the assessment year 1976-77. The addition of Rs. 1 lakh to the wealth was deleted as the Tribunal found the gift to be valid, involving three parties, and not falling under section 4(5A) of the Wealth-tax Act. The Tribunal concluded that there was no tax avoidance through book entries and held that the provision did not apply in this case. en-us Sat, 31 Jan 1981 00:00:00 +0530 Sat, 16 Apr 2011 13:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70461 The Tribunal allowed the appeal, ruling in favor of the assessee, and annulled the assessment for the assessment year 1976-77. The addition of Rs. 1 lakh to the wealth was deleted as the Tribunal found the gift to be valid, involving three parties, and not falling under section 4(5A) of the Wealth-tax Act. The Tribunal concluded that there was no tax avoidance through book entries and held that the provision did not apply in this case. Case-Laws Wealth-tax Sat, 31 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70461